Feb 2015 Income Report!

Life just keeps getting better! This month I finally got to go diving in the legendary Similan Islands off the west coast of Thailand. It was my first time on a liveaboard dive boat, and even though I was in the middle of the ocean with no cell phone reception, wifi or internet access, business went on as usual and I came back with passive income generated and no unhappy customers.

The rest of the month went even stronger ending with more sales across all of our stores and courses. Check out this month's detailed income report here. Keep reading to get the entire breakdown.

Udemy Courses:

Larissa and I finally got around to recording a proper sales video for our Udemy course: Get Relationship Ready which brought in some nice sales though my promotions as well as gave us a nice rank increase and more organic sales.

We're still making a lot more sales through our first course Small Talk: How To Talk to Anyone but that has a lot more reviews and students so I have a good feeling that Relationship Ready will catch up in the next couple of months.

Aside from rerecording the sales video, we haven't had to do anything with the course since we launched it a few months ago, which makes it a completely passive source of income.

Total Profit: $433.83

*Larissa also make $433.83 as she's my 50/50 partner which means combined we made $867.66 which is a nice addition to our household income.

Plans for March: I'm signing up for Anton Kraly's Membership Site Master training course which will teach me how to get off of Udemy's platform and create a membership course that pays me $250-$1,000 per signup instead of the measly $5 that I get through Udemy.

Book Sales:

Another source of completely passive income is my book sales. My favorite thing about it is how many reviews I get organically by readers who genuinely enjoyed the book and took the time to write a review on Amazon.

By the way, I never really thought about this, but it's actually pretty cool that people all around the world are starting to buy the book, even though I have no idea how someone in .de which I'm assuming is Germany finds my book on Amazon.

Other income:

I still get random account credits and payments from my blog and the podcast. This month I got a big gift card payout from people buying things though my recommended resources page on Amazon. I update that page with the products and services I personally use and have had success with so check it out and thanks for remember to use my link whenever you sign up for any of the services so I can get credit for referring you.

I don't count these earnings as they are non-earned income by are nice to have. =)

Dropshipping Stores:

This is the second month that both my main store and Larissa's new store have been open for business and it's great to have another source of income, especially since her new niche is crushing it. I've turned over all of my accounting to my Filipino VA which is awesome that I don't have to look at it, but kinda sucks because she's a few days behind schedule on updating the costs of goods and shipping prices for some of the orders.

Total Revenue: $20,656.61

Total Profit: $3,560~

Store #2: (Larissa + Johnny's Store)

Total Revenue: $12,243.80

Total Profit: $1,753.60

Even though Feb is traditionally one of the slowest months for ecommerce we did pretty well with both stores. I focused a lot getting out ad costs down so even though our total revenue was lower for my main store this month my ad budget was only $424.48 this month instead of being almost double that in previous months.

Also for Larissa's store, we only spent $309.40 in total for all ads, which is insanely low for having over $12k in sales.

Thanks again to Anton for putting together the Anton Method Dropship training course as non of this would have been possible without his guidance.

Costs of Living:

A few people asked about what my expenses and costs of living are in comparison to what I'm making, so here's a rough breakdown.

Rent: $188 per person

Coworking Space: $110

Internet: $11 each

Utilities: $10 each

Cell Phone: $10

Gas/Transport: $10

Food: $400

Coffee/Butter: $70

Misc: $100

Total Costs of Living: $909

Overall February was a great month. I got to spend a week of it down at the Similan Islands, go to scuba dive with a Whale Shark, hang out with my cousin Larry who was visiting from the U.S. and still ended up making enough money to put quite a bit towards savings for the month.

I hope you guys enjoyed this month's breakdown. Best of luck to everyone in March 2015! Let me know how it goes!

Hey Joe, Larissa and I are splitting the profit for that 2nd store. We actually already have a 3rd store up and running that has started making some sales but we haven't had time to properly launch it yet. I don't count what I make from credit from non-earned income as it goes into a rainy day fund but it's at least a few hundred dollars per month.

Best of luck to you in March in your own businesses, keep up the good work!

Hey thanks Kev! Glad to see you're going to do the membership course at the same time! It'll be fun having everyone launch together! We'll see about the membership site retreat, I have a feeling that people are going to crush it with their sites and it's going to be a baller event!

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